People have become increasingly aware of their roles in protecting the environment. For many of them, one of the few things they can do as soon as possible is to switch from gas-powered cars to electric vehicles (EVs). However, the leading cause for hesitation is the expense of an electric car. In fact, an electric car like a Tesla can turn out to be as expensive if not more expensive than a sports utility vehicle.
Furthermore, maintenance may also be more costly compared to conventional vehicles. As you start to factor in these costs, many people quickly begin to question whether they can afford an electric vehicle. So, what’s the best way to afford an electric vehicle? One of the easiest ways to afford an EV is to buy a previously owned electric car.
However, if you do decide to buy a used electric vehicle, you should strongly consider purchasing an extended auto warranty with it. While some places may not offer extended car warranties for EVs, you will find that the best auto warranty companies offer vehicle protection plans for electric vehicles like Teslas. You can buy one from the dealership or from a third-party company, just as you do with your auto financing.
The Popularity of EVs
Since Teslas came onto the scene, electric vehicles have become more popular in recent years, more auto warranty companies have started to look at the market differently. After seeing the huge market for electric cars, they are now ready to offer extended warranties for used EVs as well. That blows the door wide open for those who want to own one but can’t because of the price.
Teslas and other electric cars have become more mainstream due to concern about gas-powered vehicles and climate change. However, many people find that electric cars are useful because they help them save money on fuel costs and are pretty stylish and safe to drive.
As the popularity of electric cars has risen, many dealerships and third-party extended auto warranty companies decided to offer vehicle protection plans for cars like Teslas and other electric vehicles. An extended warranty undoubtedly helps with the high maintenance cost for the technologically advanced features that come with them.
EVs have become more mainstream because of what combustion engines can do to the environment. In addition, the threats of climate change and global warming have also found themselves in the argument for electric vehicles. As more people understand the importance of switching to EVs, car warranty providers slowly carve a niche for themselves.
Why You Need an Extended Warranty for Your EV
Imagine needing only to pay around a couple of thousands of dollars a year for the cost of your warranty coverage. You don’t need to worry about whatever happens to your car in the period it is insured as long as the incident falls under the categories for which your car is insured. But this isn’t the same when you buy a second-hand EV with no extended warranty.
Until extended warranties for used EVs came on the scene, car buyers need to understand that they are responsible for the financial constraint of having a second-hand electric vehicle. This means you are going to pay for the repair of the vehicle from your own pocket. If replacement parts are needed, you are responsible for paying for those, too.
That’s a huge undertaking when the reason why you bought a second-hand EV is the lack of finances. This is why car buyers tried to stay clear of used EVs. Who would want to face that kind of responsibility? That also highlights the need for an extended warranty.
Getting Help in Case of an Accident
Having this warranty to your side means some other company will take care of your EV when needed. Since not many car mechanics understand the workings of an electric vehicle, it’s safe to have the car manufacturer on your side because it knows what to do if and when your car breaks down. It is an assurance that you will have someone to help you not only in covering the costs of the repair but in extending your EV’s life span.
Finding Replacement Parts
Replacement parts are also extremely rare. Although the batteries of EVs will last for 10 years or more, it is also not unusual for them to break down before that. Though EVs are expected to be more popular in the coming years, this doesn’t mean that their components will be easy to find. Auto warranty companies can help EV owners find replacement parts because they will partner with dealerships, car mechanics, and direct suppliers.
Protecting the Environment Better
Why did you buy the EV in the first place? You bought it because you want to help save the environment. It’s your own little way of reducing your carbon footprint. However, if you aren’t going to take better care of your electric vehicle, then there’s a good chance that it will break down and become unsavable. When the purpose of your purchase is to reduce your carbon footprint, you should work to extend the car’s life span, so you won’t need to buy a new one.
The Bottom Line
It is not only the cost of the maintenance that bothers people who have an EV; it is also the cost of the repair that will come once the EV starts to act up. For those who cannot afford the repair without the extended warranty, the practical and obvious solution out of the predicament is to resell the electric vehicle to someone who can afford the upkeep. If you have an extended warranty, this won’t be a problem because the car manufacturer can take care of it.
You cannot think about buying a second-hand EV without considering an extended warranty for it. Even if you are financially well-off, it’s still a lot of work to maintain and fix an EV without the help of the manufacturer or dealership.